NEW YORK | 405-417 Park Avenue | FT | FLOORS - Page 5

chris08876 · #81 Posted **Jan 16, 2021, 2:17 AM**

That's using the 30,000 square feet of air rights. I wonder what kind of massing we could be looking at.

If this somewhat has a similar parcel dimension to say 432 Park, and they go with condos or something in the residential spectrum, could be kind of sizable I feel.

Would be nice for 423 and 425 Park to have some larger company, even if slender in nature.

Hudson11 · #82 Posted **Jan 16, 2021, 2:45 AM**

edit: oh nevermind that's the office tower, not the co-op. Still a shame they couldn't piece together something larger as was intended with the rezoning. I don't think they intended for individual towers like this to be demolished and replaced by others comprising a few more stories. They envisioned botique towers like 425 Park and soaring supertalls like 1 Vanderbilt.

417 is apparently doomed as well, though.

https://newyorkyimby.com/2020/07/demo-pe...rk-avenue-in-midtown-east-manhattan.html

Demo Permits Filed for 417 Park Avenue in Midtown East, Manhattan - July 2020

Hudson11 · #83 Posted **Jan 16, 2021, 3:03 AM**

It'd be a real shame if these two plots couldn't be combined to put up a larger tower as envisioned by the rezoning. The point of the rezoning was modernization, but still, a 17 floor office building biting the dust for a 21 story one and a beautiful pre-war co-op going the way of the dodo for who knows what would be an aesthetic overlook for the neighborhood.

chris08876 · #84 Posted **Jan 16, 2021, 3:19 AM**

It could yield something substantial if part of the same assemblage. For the location, they should definitely go for the option that allows max potential.

Even if they have to wait based on their risk mitigation, better to have something grand per say than lackluster and short. If it goes residential, could be sizable if the two are combined.

JMKeynes · #85 Posted **Jan 16, 2021, 4:27 AM**

The initial plan, as I recall, was to reclad it and add a few floors. The key to the puzzle might be the little, mid-block building.

Crawford · #86 Posted **Jan 16, 2021, 4:44 AM**

I thought the former residential building to the north now has the same ownership. I remember reading something where the northern site sold to the owners of the southern site, or vice-versa.

This is an assemblage, probably for a full-block trophy office tower. The entire block now has demo filings, BTW, even the little holdout in the middle.

Hudson11 · #87 Posted **Jan 16, 2021, 5:27 AM**

I don't recall the two buildings ever coming under the same ownership. In fact, I imagine minus a joint venture, which I also don't recall reading any news about, the two would be quite belligerent in selling to the other considering the value of the real estate and its air rights.

Visionist · #88 Posted **Jan 16, 2021, 10:40 AM**

It'll be a sad day when 417 Park is demolished. With the Drake long gone there's almost no pre wars left in this area.

Visionist · #89 Posted **Jan 16, 2021, 12:06 PM**

The homogenisation of Park Avenue is nearly complete.

Anybody have pictures of how it used to look before the war?

JMKeynes · #90 Posted **Jan 16, 2021, 1:29 PM**

Quote:

Originally Posted by Visionist

It'll be a sad day when 417 Park is demolished. With the Drake long gone there's almost no pre wars left in this area.

I agree.

Busy Bee · #91 Posted **Jan 16, 2021, 2:41 PM**

All the more frustrating knowing that if they really wanted to they could preaerve the facade and reincorporate itt in to the base of a new tower.

NYguy · #92 Posted **Jan 16, 2021, 3:12 PM**

Quote:

Originally Posted by Hudson11

I don't think they intended for individual towers like this to be demolished and replaced by others comprising a few more stories. They envisioned botique towers like 425 Park and soaring supertalls like 1 Vanderbilt.

417 is apparently doomed as well, though.

https://newyorkyimby.com/2020/07/demo-pe...rk-avenue-in-midtown-east-manhattan.html

Demo Permits Filed for 417 Park Avenue in Midtown East, Manhattan - July 2020

They envisioned new, modern office space replacing older office space, of all stripes in the district. Because of the density of east midtown (as opposed to the west side), you aren't going to get the large assemblages to build larger towers. 415 Madison Avenue is on the same trajectory as this site, though both could eventually be assembled into a larger site.

NYguy · #93 Posted **Jan 16, 2021, 3:54 PM**

These sights may eventually be merged, but a pic from the other thread...

chris08876 · #94 Posted **Jan 16, 2021, 6:20 PM**

If that middle building is really what's stopping a big assemblage, that's a big bummer.

Visionist · #95 Posted **Jan 16, 2021, 8:14 PM**

Taking 417's extant rights and adding them to 405's along with anything from the Stefano place and what was bought from St Patrick's would probably still yield a 700 footer with boutique floorplates and 417 could be saved.

Too logical.

NYer34 · #96 Posted **Jan 18, 2021, 3:34 AM**

It just feels like someone (everyone?) in NYC development really must delight in spiting the city and its history.

Hudson11 · #97 Posted **May 7, 2021, 2:29 PM**

Still nothing on a sale of 405, but tiny boi at 409 is getting torn down too.

https://newyorkyimby.com/2021/05/demo-permits-filed-for-409-park-avenue-in-midtown-manhattan.html

Demo Permits Filed for 409 Park Avenue in Midtown, Manhattan

Hudson11 · #98 Posted **Jul 26, 2021, 10:15 PM**

looks like this was a massing used to market the site before it was purchased by GSDNY and Klovern. 409 Park has since been added to the assemblage. I foresee something like 415 Madison rising here with 405 turning into a glassy restack with a few extra stories.

CBRE

JMKeynes · #99 Posted **Oct 2, 2021, 11:17 AM**

I hope that 430 Park gets redeveloped. It’s hideous.

https://marxrealty.com/portfolio/430-park-ave/

Crawford · #**100** Posted **Oct 2, 2021, 4:04 PM**

Yeah, 430 Park needs to go. Would be a perfect spot for a boutique tower for hedge funds, VC, PE and the like.

Hopefully a supertall or near-supertall.